Vicent is a member of St.bruno Development Group. He is a 44-year-old, married man who lives in Nnono Villages, a few kilometers from Mpigi town. He lives in his own home, together with his wife and six of his eight children. Vicent also has three orphans he takes care of, following the death of their father (Vicent's elder brother). The three children's mother abandoned them after the death of their late father.
Vicent deals in agriculture, mainly maize growing and he seasonally trades in agricultural produce. He now wants a loan to hire labor to plough more fields and to use the balance to buy manure and improve on the farm's fertility, to increase his yields.
He is looking forward to expanding his agricultural produce trade and to supplying bigger markets in the city.
More information about this loan
This loan is part of UGAFODE's program for clients who live in isolated rural areas with limited access to financial services. Uniquely, UGAFODE focuses its efforts on agricultural areas in Uganda that are over 50 km from their branches, providing loans to both groups and individual borrowers. The organization believes that the risk of offering services to remote clients is outweighed by the benefits to customers and their often underserved communities.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.